THEBanking, a full-service digital bank offering financial services and payment methods, whose purpose is to make the financial lives of people and businesses easier, ended the fourth quarter of 2024 (4Q24) with anet revenue of R$5.1 billion, an increase of 18% compared to the same period last year, andnet profit of R$ 631 million, reflecting a 21% year-over-year increase, reaffirming its capacity for sustainable growth and resilience in the face of a challenging macroeconomic scenario. Still in this context, the return on equity (ROAE) reached 15.2% in 2024, which reinforces the robustness of the results.
“PagBank’s performance in the last quarter of 2024 proves our ability to navigate different economic cycles with consistency. Even in the face of challenges such as high interest rates and exchange rate volatility, we maintained our growth strategy, expanding business, acquiring new customers and strengthening our financial services platform,” highlights Alexandre Magnani, CEO of PagBank.
In 4Q24, PagBank reached the milestone of33.2 million customersa growth of 2.1 million customers in the year. The total volume processed in payments(TPV) reached R$ 146 billion, which represents a 28% increase over the fourth quarter of 2023. In the year, the TPV was R$ 518 billion, a 32% increase compared to 2023.
The Company invested R$2.3 billion in technology throughout 2024, launching new products and services, improving the quality of service to our customers and expanding business.
The expanded credit portfolio also stood out, reachingR$ 48 billion,a 46% year-over-year growth. The total volume of deposits amounted toR$ 36.1 billion,an increase of 31% y/y, reflecting customer confidence in the Institution.
PagBank is a full digital bank, offering our clients access to a diversified portfolio of financial and payment products and services, ranging from acquiring solutions, as well as credit products, investments, insurance, among others. We are present throughout the country, currently boasting the largest acceptance network for payment solutions, with6.3 million traders. The robustness of our financial ecosystem is also evidenced by the almost 18 million active customers who choose PagBank as their main Banking platform”, points out Gustavo Sechin, Director of IR, ESG, Market Intelligence and Economics at PagBank.
Financial discipline and the pursuit of greater operational efficiency resulted in a 74 basis point increase in operational leverage during the quarter. The share buyback program, which totaled R$ 784 million in 2024, reinforces PagBank's commitment to creating value for shareholders. "We remain focused on maximizing returns for our investors by combining solid growth with disciplined financial management. In this regard, PagBank is not only growing in scale but also strengthening its profitability consistently," says Artur Schunck, CFO of PagBank.
Outlook for 2025: keeping an eye on market movements and focusing on growth
PagBank maintains a positive outlook for 2025. The bank aims to continue expanding its customer base, broadening its product offerings, and increasing its market share, always guided by financial solidity and innovation.
“We remain committed to our purpose of making the financial lives of people and businesses easier, delivering an experience that consolidates and simplifies our customers’ financial relationships. Our expectation for 2025 is to expand our presence in the market, reinforcing our commitment to our customers, shareholders and business partners,” concludes Magnani.
In addition to business expansion, PagBank continues to advance its ESG initiatives, consolidating itself as a reference in the financial sector in good environmental, social and governance practices.
To access PagBank's financial statements for 4Q24,Click here.
